A magnetic tunnel junction (MTJ) forms the basic memory element of a non-volatile magnetic random access memory (MRAM) that promises high performance and endurance, and moreover has the potential to be scaled to extremely small sizes. A magnetic tunnel junction (MTJ) is composed of a sandwich of two magnetic layers separated by an ultra-thin insulating layer. One of these layers forms the memory or storage layer, and the other layer forms a reference layer whose magnetic structure is not changed during operation of the MRAM. Electrical current that tunnels between the reference and memory magnetic layers is spin-polarized: The magnitude of the spin-polarization is determined by a combination of the electronic properties of the magnetic electrodes and “spin-filtering” properties of the tunnel barrier. (These magnetic layers are in contact with electrodes; alternatively, these magnetic layers may be viewed as forming part of the electrodes themselves.)
In current-day MRAM the magnetic state of the MTJ is changed by passing a current through it. The current, which is innately spin-polarized, delivers spin angular momentum, so that once a threshold current is exceeded the direction of the memory layer moment is switched. The magnitude of the switching current that is required is less when the magnetization of the electrodes is oriented perpendicular to the layers.
The most promising materials that are being explored for MTJs for dense MRAM include ferromagnetic electrodes formed from alloys of Co, Fe and B, and tunnel barriers formed from MgO (see, for example, U.S. Pat. No. 7,598,555 titled “MgO tunnel barriers and method of formation”). The ferromagnetic electrodes are made of layers sufficiently thin that the magnetizations of these electrodes are oriented perpendicular to these layers. The perpendicular magnetic anisotropy (PMA) of Co—Fe—B layers arises from the interfaces between these layers and the tunnel barrier and/or the underlayer on which the Co—Fe—B layer is deposited. Thus, these layers must be made sufficiently thin that the interface PMA overcomes the demagnetization energy that arises from the magnetic volume and increases in proportion with the magnetic volume of the Co—Fe—B layer. In practice, this means that the PMA is too weak to overcome thermal fluctuations when the device has a critical dimension less than ˜20 nm in size, since the thickness of the magnetic layer has to be (i) below that required to maintain its moment perpendicular and (ii) below that needed to switch the magnetic layer with reasonable current densities.